Sydney, Australia Monday, 31 January 2022: Next Science Limited (ASX:NXS) (Next Science/Company) today announced its Appendix 4C Quarterly Cash Flow Report for the period 1 October 2021 to 31 December 2021 (Q4).
In accordance with ASX Listing Rule 4.7C, set out below is a summary of Next Science’s key activities during Q4 and subsequent to Q4. Further details are provided in the investor presentation released separately.
Activity Summary:
-- Q4 revenue (unaudited) US$2.9M, 32% increase over Q3
-- Q4 cash receipts from customers US$2.9M, up 53% on Q3
-- Full Year Revenue (unaudited) US$8.9M, 160% increase on prior year
-- XPERIENCETM adoption gathering pace in the US - 93 Hospitals and 160 surgeons using XPERIENCETM as at the end of December 2021.
-- Continued growth of the BlastXTM customer base under the direct sales model
-- XPERIENCETM US distribution agreement signed with Zimmer, Inc (Zimmer) (excl. TELA Bio territory) and Zimmer complaint resolved. The US distribution agreement provides sales coverage with over 2000 sales representatives serving the hip and knee replacement market for Zimmer (market leader in hip & knee replacement) in the US.
-- XPERIENCETM distribution agreement signed with TELA Bio, Inc (NASDAQ:TELA) for the US plastic and reconstructive surgery market
-- Cash in the Bank US$7.4M • Net Cash Burn for the Quarter US$2.4M
-- Payments to Directors US$176K
For more information, download the attached PDF.
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